I’m interested (FTHB) in buying a condo (or possibly other type of low end housing but for all intents and purposes let’s just say condo) in the near future when the market gets better.
I’m currently working as a trucker to save up the down payment, but I really do not like it. But its a good way to save up. So I got my price range in mind, blah blah blah, and I will be going around to mortgage lenders and asking when I can take some home time, but I’m looking for some general numbers….
What’s an estimated difference between 5% down, 10%, and 20%?
Also I’m aware of the PMI with lower than 20% down, and 2-4% closing costs.
If it matters it will be in south Carolina.